Deutsche Bank Wealth Management will now be offering regulated mortgages to its private banking clients in the UK.
The product will be available to clients who want to buy houses in the country and borrow £3m or more at competitive LTVs and interest rates.
Soon, the wealth manager will expand the offering to allow clients to buy houses in nine other jurisdictions, including France, Italy and Spain.
It will provide mortgage refinancing and equity release, as well as being open to “dry lend”, in which it will offer large mortgages without requiring assets under management.
This is for customers who wish to build a wider wealth management relationship.
Michael Morley, head of Deutsche Bank Wealth Management in the UK (pictured above), said: “This offering is a gamechanger for Deutsche Bank Wealth Management in the UK and demonstrates our commitment to this market.
“Our sophisticated clients are increasingly coming to us looking for higher-value borrowing for principal private residences, high-value buy-to-let properties and commercial buildings, here.
“We’ll now be able to meet the full spectrum of their needs in the UK, putting our deep international experience and investment banking capabilities to work on their behalf.”
Deutsche Bank Wealth Management has recently bolstered its team in London to build up its capabilities in mortgage lending.
It appointed Saydam Salaheddin as head of real estate for Europe and James Lockyer as head of UK regulated mortgages.
Justin Minien has also joined the team as head of mortgage brokers, and will support Matthew Spencer, head of intermediaries.
Balaji Prasanna, global head of lending & deposits at Deutsche Bank Wealth Management, added: “Our strength in providing lending and liquidity solutions is a key differentiator for our business and I am confident that this decisive step into real estate lending will give us another significant way to engage with our clients and provide market leading solutions that few competitors can match.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Gravity selects Finastra to power banking and lending services
Gravity has selected Finastra’s Fusion Essence in the cloud solution for its end-to-end core banking capabilities...
An interview with Paul Stockwell: Islamic finance has ‘enormous opportunity’ for growth over coming years
In an interview with Specialist Banking, Paul Stockwell, chief commercial officer at Gatehouse Bank (pictured above), discusses increasing awareness of Islamic finance and opportunities in the banking world...
Revolut for Business launches expense management tool
Revolut for Business has launched a new expense management tool designed to simplify the handling of expenses for growing businesses...
Leek United strengthens intermediary team
Leek United Building Society has strengthened its intermediary team with five new appointments...
BCR awards £10m to Atom bank
Atom bank has received a £10m grant as part of the Capability and Innovation Fund Pool C grants announced by the board of Banking Competition Remedies (BCR)...
Bank of Ireland UK updates broker portal
Bank of Ireland UK has revealed that it has relaunched its broker portal...
Unity Trust Bank increases lending by 47%
Unity Trust Bank has reported an underlying pre-tax profit of £4m in H1 2019, an increase of £1.2m compared with H1 2018...
Taxing times for SMEs
Small business owners are the most creative and resilient individuals I know...
Metro Bank to open first store in the Black Country
Metro Bank is set to open two stores on 20th and 21st September in Solihull and Merry Hill...
TMA Club adds Harpenden Building Society to lender panel
TMA Club has added Harpenden Building Society to its lender panel, giving its members access to the building society’s range of mortgage products...
N26 appoints chief banking officer
N26 has appointed Thomas Grosse (pictured above) as its new chief banking officer...